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Updated about 8 years ago on . Most recent reply

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14
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4
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Nick C.
  • Investor
  • New Middletown, OH
4
Votes |
14
Posts

Should I invest in a personal umbrella policy?

Nick C.
  • Investor
  • New Middletown, OH
Posted
I just put a duplex under contract which I plan on living on one side and renting out the other. I also own an SFR in my name (that I'm renting out) and a house used as a fraternity in an LLC. My question is this: since I now how two renters in properties that are owned personally under my name should I look into an umbrella policy? My insurance broker just quoted me one as an add-on for my homeowners for $240 more annually which provides me $1 million in personally liability coverage. Is it worth getting the insurance for the time being until I move everything to LLCs?

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